Big Bonuses at Fannie and Freddie Draw Fire


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Published in the New York Times on April 4, 2009 by Charles Duhigg

Fannie Mae and Freddie Mac, the two troubled companies at the heart of the nation’s mortgage market, are set to pay their employees ‘retention bonuses’ totaling $210 million, despite calls from lawmakers to cancel the payment.

The bonuses, which were made public on Friday, were defended by the companies’ federal regulator, James B. Lockhart, who said he intended to let them proceed.

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